Best SIP Plans - Top SIP Plans to Invest in India 2023
SIP is a method of investment in any market linked product, the other being the lump sum or single pay method. A Systematic Investment Plan (SIP) is a method of disciplined investment in market linked funds offered by fund houses through Mutual Funds, insurance companies through ULIPs, and other financial institutions. Best SIP plans offered by these fund management institutions have given very high returns to disciplined investors even during volatile market scenarios.
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| CATEGORY | SIP By insurance Companies | SIP By Fund Houses |
|---|---|---|
| RETURNS (Past 10 Years) | 12.97%+ | 12.91%+ |
| LIFE COVER | ||
| TAX SAVING Under 80C |
On all plans
|
Only on ELSS
|
| TAX
FREE MATURITY
BENEFIT
Under 10(10D)* |
|
+Large cap category average past 10 years performance as on date 01 December 2022, as per Morning star.
* If premium payable is below Rs. 2.5 lakh in any year
Best SIP Fund Plans for the Year 2023
- Insurance Companies
- Mutual Funds
There is a wide range of systematic investment options available in ULIPs today. Let's take a look at the best SIP to invest in the year 2023:
| Insurer Name | Best performing Fund Name | 10 year return | |
| Tata AIA Life Insurance Company Ltd | Whole Life Mid Cap Equity Fund | 19.58% | |
| Tata AIA Life Insurance Company Ltd | Top 200 Fund | 17.87% | |
| Birla Sun Life Insurance Company Ltd | Multiplier | 16.67% | |
| Bharti AXA | Growth Opportunities Plus Fund | 16.53% | |
| IDBI | Midcap Fund | 16.38% | |
| Birla Sun Life Insurance Company Ltd | Pure Equity | 16.29% | |
| PNB MetLife India Insurance Company Limited | Virtue II | 16.23% | |
| Tata AIA Life Insurance Company Ltd | Super Select Equity Fund | 16.2% | |
| Bharti AXA | Grow Money Plus Fund | 16% | |
| Max Life | High Growth Fund | 15.99% |
Last Updated: 09 September 2022.
Unit Linked Insurance Plans (ULIPs) allow their investors to opt for the Systematic Investment Plan (SIP) method of investment, wherein the investor can make monthly, quarterly, semi-annually, or annually deposits in their plan. This method is beneficial as it does not harm the investor’s pocket and can be managed easily.
Top SIP ULIP Plans in Detail
Here are some best SIP to invest in for the long term to earn significant returns at the end of the tenure:
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Tata AIA Life - Whole Life Mid Cap Equity Fund
An open ended ULIP fund in which most of the investment is made under the equity and equity-related instruments, Tata AIA Life whole life mid cap fund offers a return of 19.58% on an average in 10 years. Along with portfolio diversification, the fund managers under this fund focus on generating decent returns for the investors.
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Aditya Birla Sun Life – Individual Multiplier Fund
A joint venture of Sun Life Financial Incorporation and Aditya Birla Group, Aditya Birla Sun Life –Individual Multiplier Fund, one of the best SIP plans, holds total assets of 25.7 billion till date with 10 year returns of over 16.67%. The Individual Multiplier Funds are managed by Bhumika Bhatia currently and focus on growing the invested wealth of the investors exponentially. Income tax benefits can be claimed under this fund on the premiums paid as per Section 80C of the Income Tax Act, 1961.
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IDBI Midcap Fund
IDBI Midcap Regular Fund invests most of the money in equity and equity-related mutual fund schemes hence is considered one of the best SIP to invest in. The date of incorporation of the fund scheme is 29th March 2010, and the current fund manager is Ashish Mishra. Some of the main highlights of the IDBI Midcap Regular fund scheme are:
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AuM (Asset Under Management) is Rs. 4,194 crores currently.
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NAV (Net Asset Value) as of 13th June 2022 is Rs. 14.67.
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The fund involves high risk taking by the investor.
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The minimum investment amount under the fund is Rs. 500.
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Exit load of 1% is levied if redeemed before the completion of 12 months.
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Max Life High Growth Fund
Max Life High Growth Fund is a multi-cap fund scheme focusing mainly on the mid cap equities, making it one of the best SIP plans. A minimum of 70% is invested in the equities under this fund and the remaining in corporate bonds, government market institutes, etc. The risk involved is relatively higher in this fund scheme. The date of incorporation of the fund scheme is 26th February 2008, and the current fund manager is Saurabh Katariya and Naresh Kumar.
There is a wide range of systematic investment options available today. Let’s take a look at a few top-performing funds which are apt for SIP investment in the year 2023:
| Returns | ||||
|---|---|---|---|---|
| Fund Name | 3 Years | 5 Years | 10 Years | |
| Large Cap Fund Mirae Asset | 14.26% | 10.47% |
16.26%
|
|
| Bluechip Fund SBI | 15.10% | 10.54% |
14.91%
|
|
| Large Cap Fund Nippon India | 15.87% | 10.43% |
14.93%
|
|
| Bluechip Fund Axis | 10.57% | 11.70% |
14.36%
|
|
| Large Cap Fund Baroda BNP Paribas | 14.33% | 11.29% |
14.69%
|
|
| Bluechip Fund ICICI Prudential | 16.25% | 11.03% |
14.61%
|
|
| Frontline Equity Fund Aditya Birla Sun Life | 14.63% | 9.35% |
13.88%
|
|
| Bluechip Equity Fund Canara Robeco | 14.08% | 11.87% |
12.93%
|
|
| Cap Fund Edelweiss Large | 12.86% | 9.83% |
13.02%
|
|
| Cap Fund B Edelweiss Large | 12.90% | 9.84% |
13.03%
|
|
Updated as on January 2023
Top SIP Plans in Detail
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Axis Bluechip Fund
This is an equity-oriented fund that main objective is to achieve long-term capital appreciation by making investments majorly in equity and equity-related securities of large-cap companies including, derivatives. This fund is best suitable for the investor who has a high-risk appetite and who wants to gain a high return on investment over a long-term period. Let’s take a look at the fund details.
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Axis Focused 25 Fund
This is an open-ended equity fund that aims to generate long term capital appreciation by making investments in equity and equity-related securities. As an equity-oriented fund, Axis Focused 25 Fund is a high-risk fund option that offers higher returns on investment. Let’s take a look at the fund details.
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Aditya Birla Sun Life Frontline Equity Fund Growth
Launched on 23rd December 1994, Aditya Birla Sun Life Frontline Equity Fund is a very high-risk-taking mutual fund. The primary objective of the scheme is to seek long-term capital growth. The money is 100% invested in equity, aiming for diversity across industries. It also holds an objective of income generation and distribution of IDCW.
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Baroda BNP Paribas Large Cap Fund Regular Plan Growth
Baroda BNP Paribas Asset Management India Pvt. Ltd. came up with a large-cap equity scheme, Baroda BNP Paribas Large Cap Fund, on 23rd September 2004. Currently managed by Jitendra Sriram, the fund focuses on generating long-term capital growth. Primary investments are predominantly made into equity and equity-related instruments of large-cap companies. The scheme does not guarantee any returns.
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Canara Robeco Bluechip Equity Fund Regular Plan Growth
Canara Robeco Bluechip Equity Fund is a very high risk-taking fund with a minimum investment limit of Rs. 1,000. Launched on 20th August 2010, it is currently managed by Shridatta Bhandwaldar. The predominant objective of the fund is to provide capital appreciation while investing in large market companies. The scheme does not guarantee any returns.
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Edelweiss Large Cap Fund C Growth
Launched on 20th May 2009, Edelweiss Large Cap Fund is a very high risk-taking mutual fund. The scheme's primary objective is to seek long-term capital growth by investing in equity and equity-related securities of 100 large-cap companies listed in India. The scheme does not guarantee any returns.
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ICICI Prudential Bluechip Fund
As an open-ended equity scheme, this fund majorly invests in large-cap stocks. The main objective of the scheme is to provide long-term capital appreciation by making investments predominantly in equity and equity-related instrument of large-cap companies. Let’s take a look at the fund details.
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IDBI India Top 100 Equity Fund Growth
A large-cap equity scheme, IDBI India Top 100 Equity Fund is an equity mutual direct fund belonging to IDBI Asset Management Ltd. Launched on 15th May 2012, the fund focuses on generating long-term capital growth. The money is invested in equity and equity-related instruments, making it diversified in nature. This fund is best suited for the investor with a high-risk appetite and who wants to gain a high return on investment over a long-term period.
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Nippon India Large Cap Fund -Direct Plan - Growth Plan
Nippon Life India Asset Management Ltd. came up with an open-ended equity scheme, Nippon India Large Cap Fund, on 8th August 2007. Currently managed by Sailesh Raj Bhan, the fund focuses on generating long-term capital growth. Primary investments are predominantly made into equity and equity-related instruments of large-cap companies, whereas secondary investments are made in money market securities, debts, InvITs, and REITs.
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TATA India Consumer Fund
This is an open-ended fund that aims to provide long-term capital growth by investing 80% of the asset in equity and equity-oriented securities. This fund is the best fit for investors who have a high-risk appetite. Let’s take a look at the plan details.
When to ULIP vs when to Mutual Fund - ULIP vs Mutual Fund
Investors are always confused on how to choose between ULIP and MF based systematic investment as both these SIP investment options offer different benefits. Following are some points of considerations gathered based on the research done by our financial experts to help investors decide the best SIP plan to meet their financial goals.
- Looking for medium to long-
term investment
horizon - Want to grow wealth while
securing family future - Have a low to medium
risk appetite - You want to save on
your taxes - Want less stress during market
volatility
- A short-term or a
medium-term investment horizon - Want to only grow wealth
- Have a high or medium
risk appetite - Want high liquidity with no tax
saving - Have knowledge & expertise to
manage market volatility
The process of SIP funds allows the investors to manage their personal finance and create a financial cushion so that they can achieve the financial objectives of life. The contribution towards SIP helps the investors to manage their investment on a regular basis in a simple and hassle-free way. Even though returns on SIP mutual funds entirely depend on the market performance, mentioned above is the list of top-performing best SIP plans for the year 2023, wherein you can consider investing.
